According to a new report by Grand View Research, the global flat glass market is expected to reach US$352 billion by 2028, with a compound annual growth rate of 3.6%.
The need for increased construction expenditure and improved energy efficiency of buildings will drive market growth. People’s increasing preference for natural lighting in buildings has driven the consumption of roof and curtain wall facade glass, which is expected to play a key role in increasing demand for flat glass products in the next few years.
Technical upgrades and product innovations in the application of architectural glass have produced positive benefits for the recent market growth. However, due to the decline in sales revenue of major companies due to the Covid-19 pandemic, market growth in 2020 has been hampered.
For example, Saint-Gobain’s sales fell by approximately 6% from the third quarter of 2019 to the third quarter of 2020. The Covid-19 pandemic has slowed the investment cycle of customers and affected all related activities.
With investments in the solar energy, construction and automotive industries, the market is expected to recover soon. The growth of the end-use industry has forced product manufacturers to expand their production capacity. For example, in October 2020, Şişecam invested in the production business in Turkey to expand production capacity to meet the growing demand of the domestic market.
The main players in the flat glass market:
AGC Inc.
Cevital Group
Euroglas
Guardian Industries
Saint-Gobain
Şişecam Group
Vitro
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